NEWS YOU CAN USE:
In an article published Feb. 25 by Mainstreet.com, the author Brian O’Connell suggests building an emergency fund is crucial to being financially savvy.
“Here’s how you know nearly 40 percent of Americans could stand to be better about saving money,” the article reads. “According to Bankrate.com, 37 percent of Americans have credit card debt that equals or exceeds their emergency savings.”
For the article in its entirety, which includes 3 creative ways to build an emergency fund — click HERE.
Andy Anderson, Vice President of Marketing, Sales & Services for CDC Federal Credit Union suggests paying yourself first.
“Use direct deposit to automatically divert a set amount or percentage of each paycheck into a savings account,” Anderson said. “That way, you don’t see the money that’s set aside for you to use sometime in your future. Out of sight, out of mind … and you’ll be surprised to see how fast it grows.”